Education FinancialsLIVE

In order to provide the best possible education for your students, it is important that your back office systems are efficient and hassle-free. Schools, academies, colleges and trusts face significant budgetary challenges, and so a robust, secure and reliable financial management information system (FMIS) is a vital element in the delivery of a sustainable financial strategy.

Education FinancialsLIVE has been designed to support the requirements of education organisations and is easily scalable should you join a trust, merge or gain new academies. Civica has over 25 years’ experience of supporting education finance teams with technology solutions designed to cut costs and improve productivity, and FinancialsLIVE is our most comprehensive solution.

A consolidated approach

With a clear view of finances across your organisation, you can see both the bigger picture and focus on the detail. Education FinancialsLIVE provides:

The ability to view individual transactions or gain an overview of your budget, helping you to identify opportunities for cost savings.

Improved experience

Designed for education finance teams and with user experience as a priority, Education FinancialsLIVE:

Offers customisable workflows which allow you to create the best possible configuration for your organisation

Provides real-time access to financial information, securely hosted in the cloud, from any device.

Increased accuracy

When it comes to your financial data, Education FinancialsLIVE gives you peace of mind. The solution:

Is designed to eliminate the need for entering information more than once, reducing the margin for error

Automates many of the key aspects of the ‘purchase to pay’ cycle – from requisitioning to receipting – streamlining processes and minimising risk.

Faster, more useful reporting

Providing comprehensive reports to all stakeholders is quick and easy; with Education FinancialsLIVE you can:

Create and schedule bespoke, regular management reports on any data in the system

Make better decisions informed by real intelligence.

Why choose Education FinancialsLIVE?

More accurate forecasting and reporting

Increases productivity of staff

Eliminates the need for paper and spreadsheets

General Ledger

eBudgeting with budget holder hierarchy

eForecasting with inflation schemes

ePayroll budgeting

Multi-dimensional drag and drop coding

Project/capital monitoring

Sophisticated online enquiry tools

Cross-company reporting

Automated enquiries for academic and support staff.

Creditors

Digital scanning

Suppliers and creditors portal

Transparency reporting

Full KPI facilities

Automated invoice processing.

Procurement

Multiple approval facilities

Real time budget checking

Payment requests

Punch out technology

Procurement hub

Central procurement options

Contract monitoring

Multi-year commitment accounting.

Asset Management

Unlimited parent and child associations

Full integration with general ledger

Industry standard depreciation methods

Multi-book capabilities/modelling

Image and location information per asset.

Debtors

Easy integration for lettings of facilities

Unlimited recovery stages and routes

Arrangement handling

Legal recovery integration

Customer online portal

Emailing of invoices and recovery letters.

Cash Management

Income and expenditure reconciliation

Standard bank files for all UK major banks

Cash flow forecasting

Automated matching – one-to-one, one-to-many and many-to-one.

Integration & Alerts

SSIS packages for all major imports

Import and export using Excel

Inbuilt user documentation

Data validation with user security

Auto error and resubmission of failed jobs

Data can be ‘pushed’ online from third party applications.

Management Information & Reporting

Statutory reports including ESFA and DfE

250+ report templates as standard

Report bursting facilities

Report scheduling

Auto emailing of reports in most outputs

Financials/third party archiving.

We have used Civica’s finance package since becoming a multi academy trust in 2015. As a central finance function, the system allows us to see each of our schools individually but also consolidate the information to report on the MAT as a whole.Jane Stringer, Chief Finance Officer, Bedford Catholic Schools

Find out how we can improve financial management in your school, academy or trust